March FOMC, '100%' Probability of Rate Freeze... Bitcoin Down 2% Compared to Previous Day

Uk Jin

Summary

Reported that there is a 100% probability of a rate freeze at the March FOMC.
Stated that investor sentiment in the virtual asset market has weakened as the rate cut has been postponed.
Reported that major virtual assets including Bitcoin have all shown a downward trend.

As the Federal Open Market Committee (FOMC) of the Federal Reserve (Fed), which greatly influences investment sentiment for risk assets, is just one day away, the market is confident about a rate freeze in March. With the rate cut being postponed, the virtual asset (cryptocurrency) market is also showing weakened investor sentiment.

As of 7:53 AM on the 19th (Korean time), according to CME FedWatch, the probability of a rate freeze at the March FOMC is currently 100%. The Fed is scheduled to announce its decision on the benchmark interest rate at 3 AM on the 20th after a two-day FOMC meeting.

With the diminishing possibility of a rate cut, the virtual asset market is showing weakness today. Bitcoin (BTC), the leading cryptocurrency, is down 1.97% from the previous day at $82,486 at the same time. Most altcoins are also declining. Ethereum (-0.90%), XRP (-2.98%), Solana (-3.18%), Dogecoin (-3.87%), and ADA (-3.05%) have all fallen.